U.S. investors haven't seen stocks fall so far and fast in years.
Friday's implosion could suggest the end of one of the longest bull markets in history, one marked by low interest rates, confident investors and soaring corporate valuations — despite an often jittery global economy.
The recent trouble in China's economy, analysts say, only ignited a long-smoldering bonfire.
“It came in a flash but what was behind it was building,” said James W. Paulsen, chief investment strategist at Wells Capital Management. Investors had grown complacent, he said, “and complacency is never good.”
The Dow Jones industrial average fell 530.